Daily Market Brief

Jun 14, 2024

Daily Market Brief 240614

PC
Peter Chung
MJ
Min Jung
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  • As the market digests CPI and FOMC data, $BTC continued its selloff, down 2.2% to $66,773, while $ETH dropped to $3,470. On the ETF front, we are likely to see a net outflow for June 13th, with $GBTC, $BITB, and $BTCO experiencing significant outflows.

  • In a budget hearing, Gary Gensler told senators that the final approval of the spot ETH ETF should be completed by this summer. He mentioned that the process is progressing smoothly and that S-1s are now being handled at the “staff level.”

  • Other headlines include $PIRATE listing on Coinbase, Microstrategy announcing a $500M offering, $HLG hacking incident, and $CRV plunging 28% due to liquidation by the founder.

  • During the last 24 hours, the top three gainers were $ELF, $TON, and $SKL, while the top three losers were $CRV, $AR, and $STX.

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PC
Peter ChungHead of Research
MJ
Min JungResearch Analyst